NEW YORK (AP) — Wall Street is ticking higher to claw back a bit of its deep losses for August so far. The S&P 500 was up 0.3% in early trading Monday, coming off its third losing week in a row. The Dow rose 21 points and the Nasdaq composite was up 0.4%. The relatively quiet trading followed a mixed performance for stock markets worldwide. The week’s main event for markets is likely to be a speech on Friday by Federal Reserve Chair Jerome Powell. The Jackson Hole, Wyoming, setting has been the
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
The benchmark S&P 500 index declined Friday ahead of this week's closely watched Jackson Hole, Wyoming, conference. Fed officials have used the event in previous years to hint at changes in policy. Shares of security software maker Palo Alto Networks jumped more than 12% before the bell Monday after the California company reported better profit than expected after the bell on Friday.
Tech and other high-growth stocks are seen as some of the biggest losers due to higher rates. Several are down more than 10% from this year’s highs.
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